Form 4: NSTS Bancorp Chief Lending Officer Reports Stock Transactions

Amy L. Avakian, Chief Lending Officer of NSTS Bancorp, reports the disposition of shares to cover tax obligations related to ESOP allocations and shares held in the company's ESOP.

Summary

• Amy L. Avakian, Chief Lending Officer of NSTS Bancorp, filed a Form 4 detailing changes in beneficial ownership of the company's stock.
• On June 26, 2024, Ms. Avakian disposed of 1,155 shares of common stock at a price of $9.61 per share to cover tax obligations.
• Ms. Avakian also reported beneficial ownership of 2,787 shares held indirectly through the company's ESOP.
• Following the reported transaction, Ms. Avakian directly owns 43,845 shares of NSTS Bancorp.
• Ms. Avakian has granted power of attorney to Stephen G. Lear, Nathan E. Walker, Carissa H. Schoolcraft, and Christine Stickler to handle SEC filings on her behalf.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing detailing stock transactions. It doesn't inherently convey positive or negative sentiment.

Industry Context

Form 4 filings are a routine part of insider trading regulations, providing transparency into the transactions of company executives and directors. This filing indicates a standard transaction to cover tax obligations related to stock-based compensation.

Stakeholder Impact

• The transaction has a minor impact on shareholders as it involves a relatively small number of shares being disposed of by an executive.

Key Dates